Colosseum a.s. (Colosseum a.s.)
Commodities  |  March 21, 2013 08:35:33

Wheat on a three-week peak

ColosseumThe price of wheat in Chicago yesterday climbed up over the last three weeks because of the assumption that the current competitive rates of wheat can potentially result in higher demand for this grain by cattle ranchers. They would at the current price level of wheat could replace corn to a greater extent, which otherwise used in compound feed for cattle. The U.S. government has, in the estimation of 8 March noted that the local cattle breeders to 31 May use up to 375 million bushels of wheat. That would be more than twice the amount compared to the same period a year earlier. Now, as farmers buy corn in Kansas by 52.5 cents per bushel more expensive than wheat. May wheat futures contracts on the CBOT yesterday yesterday concluded a growth of 1.9% to 736 cents per bushel.

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